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Tami Cashi

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University Parkway community shows unity regarding Rivo Trace & Medallion Homes

06-22-10
Tami Cashi
   University Place is such a great community to live in.  Developed by Pat Neal in 2002, UP is a gated community of just over 400 single family homes and features 2 community pools, an exercise facility, tot lot and walking trails!        I would like to congratulate the home owners association, the CDD board of directors and all the residents of University Place on the amazing show of solidarity that they took at the BOCC meeting on May 25th!  By banning together and having one strong and unified voice, they were able to ensure that Medallion Homes not be permitted to utilize the University Place private and CDD owned gates for their ingress and egress to their community, while the development is under construction, which is suggested to begin this fall and beyond upon completion of the project, which is looking into to 2012 and beyond.    In addition, the joint committees were able to ensure that things like re-design of the nature trails, elimination of trees, movement of barrier walls were able to be done to the liking of the University Place residents.  We owe a great deal of thanks to those community members who participated in this legal battle.  Thank you to all!  For more information about this accomplishment and how getting involved can really help your community or to find out about buying or selling a home in University Place, FL....contact me directly at the address below! Tami Cashi, Realtor University Place Resident Prudential Palms Realty 941-527-9088 www.TeamCashi.com
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Pat Neal's latest in "affordable housing"

03-16-08
Tami Cashi

What is luxury home builder Pat Neal up to?

He attracted a lot of press when he started selling Key West-style cottages in a gated community-Forrest Creek for just $122,900. The homes drew accolades from those worried about a shortage of affordable housing, but after just three weeks prices have increased 10%. Since the launch on Feb. 28, the builder has twice raised prices, adding $13,000 to the cost of the homes. In a real estate market where prices are falling, it's hard to believe.

The prices are likely to continue rising. Neal said he wants to increase the price to around $150,000 before offering the homes in other communities. "We are trying to see if we can sell the homes close to a normal price so we can have some return," Neal said. "A new line of homes always has an exciting price level and the expectation that prices will go up." The plan is to build 70 of the lower-cost homes, covering about one-quarter of the total unsold lots in Forest Creek.

Since the launch, the company has sold 25 homes. It is said that fear of rising construction costs may be behind the decision to raise prices. Mr. Neal may need to plan ahead for that possibility and also may want to slow the pace a bit and actually deliver a few of these properties.

We wonder if Neal's plan to continue raising the price of the homes may attract speculators. Banks may also be reluctant to finance purchases on homes that are significantly more expensive than the same home that sold a few weeks earlier. We all remember those days!

Even at the new price, the homes remain well below the $160,000 level that Manatee County designates as affordable. This is one product and community to keep your eye on!

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